Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Sees Significant Drop in Short Interest

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,600 shares, a decrease of 48.4% from the September 15th total of 3,100 shares. Based on an average daily volume of 7,500 shares, the short-interest ratio is currently 0.2 days.

Tortoise Energy Independence Fund Trading Up 0.6 %

NDP stock traded up $0.25 during trading on Friday, hitting $40.63. The stock had a trading volume of 2,090 shares, compared to its average volume of 5,832. Tortoise Energy Independence Fund has a twelve month low of $27.38 and a twelve month high of $41.07. The company’s 50-day moving average price is $38.02 and its two-hundred day moving average price is $35.64.

Tortoise Energy Independence Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 6.20%. The ex-dividend date was Friday, August 23rd.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tortoise Energy Independence Fund stock. Almitas Capital LLC bought a new position in Tortoise Energy Independence Fund, Inc. (NYSE:NDP) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 15,093 shares of the company’s stock, valued at approximately $546,000.

About Tortoise Energy Independence Fund

Tortoise Energy Independence Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the North American. It seeks to invest primarily in the energy sector. The fund employs a fundamental analysis with a bottom up stock picking approach with focus on factors like quantitative, qualitative, and relative value factors to create its portfolio.